Profile: LaSalle Hotel Properties (LHO.N)
18 Dec 2013
Lasalle Hotel Properties is a self-managed and self-administered real estate investment trust (REIT). The Company primarily buys, owns, redevelops and leases full-service hotels located in convention, resort and major urban business markets. As of December 31, 2011, the Company owned interests in 37 hotels with over 9,800 guest rooms located in nine states and the District of Columbia. Each hotel is leased to LaSalle Hotel Lessee, Inc. (LHL) or a wholly owned subsidiary of LHL under a participating lease that provides for rental payments. A third-party non-affiliated hotel operator manages each hotel. All of the Company’s assets are held by, and all of its operations are conducted through, LaSalle Hotel Operating Partnership, L.P. (the Operating Partnership). It is the sole general partner of the Operating Partnership. On December 29, 2011, the Company acquired a 100% interest in the Park Central Hotel, a 934-room upscale, full-service hotel located in New York. In December 2012, the Company acquired LAuberge Del Mar in Del Mar, California. In January 2013, the Company acquired a majority interest in The Liberty Hotel in Boston, Massachusetts. In August 2013, Lasalle Hotel Properties acquired the 260-room Southernmost Hotel Collection in Key West, Florida and also acquired the Serrano Hotel in San Francisco.
The Company owned, through a combination of direct and indirect interests, 99.6% of the common units of the Operating Partnership, as of December 31, 2011. The remaining 0.4% is held by limited partners. The Company seeks relationships with hotel operating companies, including Westin Hotels and Resorts, Hilton Hotels Corporation, Outrigger Lodging Services, Noble House Hotels & Resorts, Hyatt Hotels Corporation, Benchmark Hospitality, White Lodging Services Corporation, Thompson Hotels, Sandcastle Resorts & Hotels, Davidson Hotel Company, Denihan Hospitality Group, Kimpton Hotel & Restaurant Group, L.L.C., Accor, Destination Hotels & Resorts, HEI Hotels & Resorts, JRK Hotel Group, Inc., Viceroy Hotel Group and Highgate Holdings.
LaSalle Hotel Properties
3 Bethesda Metro Center,
BETHESDA MD 20814